Don’t Fear Selling More, Simply Add More Sales Channels

Our cloud based inventory management system increases your sales by harmonizing all sales channels within the same supply chain and allowing you scale your small business.

Overselling is a major concern for small business owners. Thanks to our marketplace and shopping cart integration, our inventory management system shares inventory levels and synchronizes orders across different sales channels. This means you can effortlessly sell your inventory on multiple sales channels, without worrying about overselling or missing potential sales opportunities.

Automate Your Fulfillment Processes With Logiwa

With Logiwa's plug'n play integrations, you can connect your business to 70+ parties and streamline you supply chain.

Marketplaces

Connect to multiple marketplaces with ease. Amazon, ebay and many more.

Explore Our Full Inventory Management Capabilities

Logiwa ensures accurate and real-time inventory management across all your sales channels and warehouses. At the same time, our software allows you to execute advanced fulfillment strategies like wave-planning, cluster picking and cross-docking.

Better Margins with “New Age” Inventory Management Software

Logiwa ‘s order fulfillment functionality is designed to improve retail and e-commerce operations. We provide smart process designs with cutting-edge technology to make it seamless. Our automated integration to marketplaces, shopping carts and carriers helps you to manage order management, fulfillment and shipment processes with fewer resources.

See What Our Customers Say About Us

Logiwa is the most integrated inventory management platform available in the market today. But don't listen to us, hear it from our customers.

We are using Logiwa for 7 years in multi-client and multi-warehouse environment. It is easy to use and there are a lot of built-in functions. I recommend it for all in 3PL fulfillment operations in online and retail.

Umur Ozkal

CEO, Arvato Systems

Easy-to-configure warehouse and inventory management system, in-depth functionality, capable of responding to various industries, top notch in retail and e-commerce, very knowledgeable team of supply chain engineers.

John A. Caltagiron

Director of SCC, Loyola University

One of the absolute best support teams I've ever worked with. They can build or fix anything you need very easily.

Make Your Operations More Efficient and Productive

If you keep extra items in stock, you’ve tied up money that you could’ve used elsewhere. By efficiently managing your inventory levels, you can ensure your business stays cash flow positive. An inventory management system’s reports and analytics features can assist you in identifying your fast-selling products on various sales channels.

Taking that a step further, you could use product selling trends and other information to optimize the warehouse layout. By placing your fast moving inventory closest to the shipping area, you’ll improve picking efficiency.

A quality inventory system can also help you to manage product batches, expiry dates, multi-matrix item variants, and complex measurement units.

Create Sustainable Business Growth With the Right Foundation

Your IMS is the foundation for further innovation within your business. With the right inventory management system, you can take your business to new productivity and profitability levels. It’s true, you can generate more revenue by lowering your prices to compete with your competitors.

But that sort of revenue doesn’t last. You can’t focus on only revenue. Your bottom line profits tell you how healthy your business is. With a top-of-the-line inventory system, you can realize greater profit margins in addition to sustainable business growth.

Minimize Costs and Maximize Profits

Top multi-channel e-commerce stores sell high volumes of products via their online and offline stores. They need to efficiently manage inventory and orders on all their sales channels and ensure they have adequate stock supplies to meet seasonal demand to minimize sales loss.

An inventory management system is also important to reduce the costs of stock storage in warehouses. For example, profits can be impacted in many ways such as storage fees, deadstock, theft, taxes, insurance. You can minimize these costs by investing in a suitable inventory management software platform.

Choosing a software-as-a-service (SaaS) inventory software limits your risk. You pay only for what you need through monthly fees with no long-term commitment. In addition, a cloud inventory software eliminates the need for long-term maintenance and updates. Instead, these activities are automatically managed by the inventory software service provider.

For many retailers and warehouse owners, there’s a temptation to continue using manual processes like spreadsheets. While these may work in the early days of your business, they are not scalable. Manual processes also don’t support necessary innovations like walking path optimization, wave picking, or cross-docking.

Even recently, the technical expertise and financial resources required to buy and run a web based inventory management software made it inaccessible. With Logiwa’s cloud-based inventory solutions, optimization and efficiency through technology are possible with budgets of virtually any size.

Fortunately, inventory software andwarehouse management systemshave kept up with these developments. Most inventory management solutions come with features that support barcode scanning with mobile devices, making it easy for workers to record where items are stored and access detailed pick lists.

For warehouses managing a high volume of orders, inventory software that support advanced picking algorithms are also on the market. These capabilities allow your picking team to quickly pick the outgoing orders.

Technology is not the only way youccanachieve 99 to 100 percent inventory accuracy. Processes also play an important role. In addition to annual physical counts, your inventory system should conduct frequentcycle countsusing the ABC method. Finally, successful managers don’t rely on gut feelings to make decisions about their inventory. They use data to determinesafety stocklevels and reorder points to keep their carrying costs low while reducing the risk of stockouts.

Quality, cloud-based solutions allow you to access inventory data from anywhere, anytime. Your remote workforce can use this capability, as well as employees who need to access the system from home or in the field.

Real-time Inventory Updates

Growing businesses face the arduous task of dispatching the right products at the correct times to the proper locations. Inside complex inventory and order fulfillment organizations, the chance for human error increases. Your employees must delegate tasks to particular warehouses which are managed by multiple members in different teams.

Inventory management system enables companies to streamline their processes because it collects and stores information in a centralized location. Administrators can manage the goods stored in multiple places effortlessly. As a result, you can streamline the entire stock management process, improve delivery efficiency, and increase customer satisfaction.

Minimize Human Error

It is a tiresome and inefficient task to manually update your stock on all your sales channels. You will spend a lot of time updating your spreadsheets, especially if you have a large product range.

Manual inventory management raises the risk of underselling and overselling products. In an out-of-stock scenario, you have unhappy customers. In an overstock scenario, you have tied up capital and crowded warehouses.

Use inventory software to keep them informed by automatically updating stock status across all your sales channels.

Humans make mistakes, which means you’ll have to expect some missing or misplaced inventory. Upgrading your logistics operations with Logiwa inventory management software will help you run your business in new and innovative ways.

Your streamlined processes will improve your control over your business. Here is how Logiwa helps you to manage your business.

Saves Money and Time

An inventory management software can help save both money and time by optimizing your fulfillment operations. How much money would you save if your order and inventory data was entered automatically? This is one of the biggest ways that an inventory management system saves you money.

Why manually input inventory into a spreadsheet, when an inventory management system can do it all with a quick scan? This can save you hours of tedious work, allowing you to spend your valuable time elsewhere! The best inventory control features allow you to integrate with all of your sales channels. You won’t have to worry because your inventory management system should integrate with all of your marketplaces and shopping carts. Data will push and pull in real-time.

This saves you from overselling. Amazon, in particular, considers overselling a serious error. If it happens too often, Amazon might kick you out of the marketplace. A ban in a popular marketplace could cause serious injury to your business.

Additionally, your remote workforce can use a cloud-based inventory management system to access all of the information they need. You don’t need to buy special devices or waste time syncing and updating spreadsheets to manage your inventory.

Increases Efficiency Through Automation

Logging orders and inventory manually is always risky, especially since the margin of error is way higher than a simple barcode scan. You could misplace or lose a piece of inventory or worse — log it twice. With all these inconsistencies, it can be difficult to know exactly how much inventory you have! An inventory management system makes sure that you know where your product is at all times. Additionally, it automates and optimizes your picking and scanning process, choosing the types of order picking methods that are best suited to your needs. This increases efficiency and also helps save your pickers valuable walking time.

The capability to integrate with other technologies is a benefit that can’t be overstated. True inventory automation comes from the integration of tech and processes. The more your supply chain innovates, the more control you will have.

Businesses all over the supply chain use new tech to automate inventory management. Some supply chains have managed to completely automate some or all of their processes. This drastically reduces the amount of human labor required to run a warehouse. Logiwa frees up capital you can invest in other areas of your business by lowering logistics costs.

Minimizes Human Error and Improve Your Inventory Management

Poor inventory management can put a retail company out of business. As the industry grows, so do the warehouses. Larger warehouses need more employees to staff them. More staff means more room for error.Order picking errors can have the following ramifications:

Returns

Additional shipping

Repackaging

Customer service costs

Additional labor costs

Lost sales

On the surface, logging inventory manually seems to be a chore. In reality, manual logging can produce costly errors for your business. Manual inventory tracking can leave you open to missing products, or worse, stolen products. With manual bookkeeping, you run the risk of misplacing inventory, or worse — lost inventory, accidentally not logged or left outdated.

When inventory is lost, it can be sitting in the storage locations gathering dust. Worst case scenario? You don’t find it before it goes obsolete. Obsolete items represent a lost investment. It can even cause errors when you calculate your safety stock levels or ATP. Then you to miss a sale and ultimately lose money. With Logiwa inventory management software, your bookkeeping is guaranteed to be accurate. You’ll be able to keep up with it in real-time.

Gathers Data for You

Analyzing data from your inventory helps you perceive industry trends and trends developing within your business. Logiwa Inventory software provides insights into your future threats and opportunities and produces reports that help with predicting future trends. This makes statistics more significant and the results more important than ever.

This is a key feature of inventory management software. Without this software, the information still exists. It’s just not in a digestible form. This was fine when only the largest retail companies could afford to pay mathematicians to pull the insights from the data. In today’s e-commerce world, inventory control data is at your fingertips. If you aren’t taking advantage of it, your competition certainly is.

Helps with Business Decisions

Having inventory data in real-time helps you make decisions “in the now”. As you amass this data, you’ll be able to use it to improve your forecast accuracy and even to optimize your layout and design.

You can also use this information to evaluate your supply chain relationships. Besides what you pay for their products, how much more do your suppliers cost you? Do they put a strain on your resources with consistently late deliveries? What about further down in your supply chain? Does anyone consistently pay late? Or perhaps you have an amazing supplier who delivers on time every time, without drama?

While data analysis is incredibly important, you must make sure the data is accurate. You should make sure to have the proper systems and tools in place so you can collect data in a manageable and efficient way. That’s why the reports that are generated by Logiwa inventory management software can be such a valuable feature.

If you can’t deliver products to your customers then you undermine the very purpose for your business. For the customer, there are few things more frustrating than spending time shopping only to discover the item they want is out of stock.

Whether it’s a problem with inventory management or a hiccup with a supplier, forcing a customer to find a product elsewhere, or wait, hurts your reputation. It creates a disappointing experience the customer is likely to recall the next time they consider shopping with you.

To maintain customer retention and avoid losses follow these tips and best practices for eCommerce inventory management.

Identify a Backup Supplier

Every retailer relies on suppliers for products sold and components used in manufacturing what they sell. Finding good suppliers isn’t always easy, especially when you need a quality supplier that:

Consistently delivers on time

Knows the industry

Maintains a strong relationship with its customers

Loyalty can mean a lot of things for businesses. You may receive discounts based on order volume, but you shouldn’t bet the success of your business on a single supplier.

If you rely on a single supplier for many (or all) of your products then a single catastrophic event – even a labor dispute or weather event – can shut down your business for an indeterminate amount of time.

Make it a point to have a backup supplier that can deliver goods through another channel, or another port. Bonus points if they source from a different region. This way you can maintain the health of your supply chain should anything happen to one of your suppliers.

Put Someone in Charge of Inventory Management

When you sell more products, your inventory management processes get complicated. This results in stock problems. As early as possible, you should designate one person to be in charge of inventory levels.

A dedicated inventory controller can save you hundreds of thousands of dollars over time. They’ll help you avoid customer losses due to out-of-stock incidents. Not to mention, they can implement effective inventory management and control stock levels. They’ll help ensure you don’t have company revenue tied up in too much inventory that’s left unsold.

Having a person dedicated to inventory management in addition to using a central inventory tracking system will put you ahead of many businesses. In fact, 43% of small businesses don’t track inventory at all, or use a manual process to track inventory.

Perform Regular Inventory Audits

Inventory reconciliation is a necessary part of eCommerce when you’re stocking inventory. You can’t get complacent when using a real-time inventory tracking system. Those systems are only as accurate as the amount of inventory the system thinks is on hand.

When the data doesn’t match due to things like improperly tracked purchase orders, theft, or a glitch in communication, you can wind up with a lot of customer orders placed for a product that’s out of stock. There are a few ways inventory can and should be tracked:

Full inventory counts – these counts are tedious, especially if you have a lot of product on hand. They’re typically done annually for the purpose of accounting and taxes. If you deal with a lot product passing through numerous hands in your business it may be a good idea to perform regular counts in order to mitigate loss from theft or product damages.

Inventory cycle counting – some businesses perform cyclical inventory counts where products are counted on a rotating basis throughout the year rather than counting everything at the end of the year. Products that move faster, or high-end items, tend to get counted more often.

Instant counts – instant inventory works like a full inventory count but instead of counting everything in your inventory you choose one or two products. These can be any random product from your inventory or a high-value product more likely to be mishandled or suffer loss. The product is counted in full and the on-hand number is compared to the number of products you should have in your inventory.

Use Data to Accurately Forecast Your Inventory

It’s uncommon for businesses to remain steady each day throughout the year. Your business will fluctuate. With busier seasons and mad rushes around promotions, you must carefully manage your inventory.

It’s even more important to understand which products your customers love and when those products will sell. Forecasting your inventory needs data. So if you’re using any kind of modern ecommerce platform, you should have all the data you need to use basic and some advanced demand forecasting methods. Even if you don’t use an ecommerce platform (you sell exclusively through marketplaces), a data-focused IMS can give you the information you need for accurate forecasts.

Your sales data over the last year will let you track individual product sales. From those numbers, you can see how market conditions, promotions, and seasonality impacted product demand.

Things to consider when projecting sales and inventory needs include:

Market trends and conditions

New product version releases

Guaranteed sales from subscriptions and reorder contracts

Tracked growth rate over previous periods

Prior year’s sales during the same period, cycle, week

Planned promotions and marketing such as online ads and email campaigns

Seasonal changes including upcoming holidays

Use that data to forecast how much inventory you’ll need on hand. Having too little can force customers to shop elsewhere if you run out of stock. Having too much eats will rack up carrying costs.

Real-Time Inventory Updates

eCommerce platforms have made it easier than ever to launch and run an online store. While inventory management is a breeze, you can create a lot of chaos if you don’t set it up properly ahead of time. These platforms offer a few ways to track inventory:

API integration to a inventory management software so inventory stock is always in real-time and levels replenish in the system as products are checked in/restocked.

Established stock numbers that will change based on sales and returns, but the number of product on hand is adjusted manually when new stock is received.

No inventory tracking; the product is essentially “always available”.

You can oversell product if your inventory numbers don’t update in real-time. Manual updates are subject to human error, like forgetting to update stock quantities. And “always available” doesn’t necessarily mean you always have it. It just means the customer can order it and pay whether you actually have the product or not.

For 3PLs, wholesalers and e-commerce businesses and even for small businesses and startups, it’s best to use real-time inventory updates. It might be easy to track inventory manually, but this isn’t a scalable solution. It will quickly lead to inventory errors and leave customers waiting for backordered items. Or worse, requesting a refund. This is another best practice where an integrated IMS can help you. When your IMS pushes real-time inventory updates to marketplaces and shopping carts, you avoid overselling and unhappy customers.

Set Periodic Automatic Replenishment Levels

A Periodic Automatic Replenishment (PAR) level is used inventory management systems to determine the minimum quantity of products on hand necessary to always meet customer demand. Even if you use a real-time inventory tracking system, you still need to establish a PAR level for your business.

When inventory levels drop to, or just below, your PAR level, your IMS should trigger a reorder in so you can keep the product in stock. Your PAR level for each product shouldn’t be an arbitrary number. Instead, base it on inventory turnover rate and customer demand. Also, your PAR level won’t stay the same throughout the year. Forecasting inventory will help you stay aware of events that could impact customer demand as well as stock maintenance. For example, upcoming holiday seasons could require PAR levels to increase.

First In, First Out Inventory Rules

First In, First Out (FIFO) is more common in eCommerce businesses that deal with perishable products with expiration dates. This process ensures that the first products received into your inventory are the first products pulled to send to the customer.

Even if you don’t deal with perishable goods, this is a good practice. With FIFO, you avoid products sitting in your inventory for too long. Customers are likely to notice if a product they receive has been ignored or neglected when they receive:

An over-handled, scuffed, or faded product

One that’s covered in dust

Has obvious out-of-date packaging compared to recently released versions

Just-In Time Inventory Management

Some small businesses use the Just-In Time (JIT) inventory management technique to lessen the cost of managed inventory. When a small business wants to control overhead or has limited space for some or all products, they’ll use this order fulfillment method.

When using this approach to inventory management, you will only stock a product when a customer orders it. The volume of inventory on hand is only equal to the number of orders you have to fill for a product.

While this has its advantages, it requires careful management of suppliers and keeping a close eye on the logistics of each order. This is true even if you use an automated system to place JIT orders with suppliers when your customers place orders on your store.

Track Purchase Order Data and Supplier Performance

Do you know how long it takes for your supplier to fill a normal purchase order? What about an abnormally large order? Do your suppliers offer expedited orders or alternate carriers if there’s a problem with a certain carrier?

As you develop relationships with suppliers make a point to ask extra questions. Get familiar with the amount of time it takes to fulfill an order based on the volume of that order. Especially when you’re placing larger reorders.

A single day added to fulfillment and delivery is an entire day that you might be out of stock. You can lose tens of thousands of dollars and do permanent damage to a customer’s perception of your brand.

Choose the Right Inventory Management Software

Choose a scalable inventory management solution as early as possible in the life of your business, and do so with future-planning in mind. If you anticipate selling products through multiple channels (physical store, social media, Amazon marketplace, your website) then you want to use an eCommerce platform and software with real-time inventory management across all those channels. Ideally choose a platform that includes:

Programmable PAR levels (minimum and maximum)

Low inventory and reorder alerts

Automated reordering based on PAR levels

Cross-channel inventory synchronization

Automated order routing

Just-In time inventory management

Interfaces with point of sale and mobile scanning

BIN IDs and pick lists

Multi-warehouse/multi-site inventory tracking

Inventory management is essential to the success of your business. While manual tracking may be easy when you’re only dealing with a handful of orders when a store launches, it will quickly overwhelm you.

Use these best practices and tips to steer you toward a more structured process for inventory management to minimize losses and retain more customers.

You can eliminate many small human errors by adopting an inventory management software or inventory management system. By using an automated inventory management system, your business with be more productive and efficient, earning you more sales and a greater profit margin.

Minimize the Opportunity for Human Errors

Poor inventory management isn’t one big mistake. It’s an accumulation of small errors that end up negatively impacting your bottom line. Each small misstep due to human error can cost you a huge amount of money in lost sales.

You can see this when you look at what it takes to manage inventory across multiple sales channels. Multi-channel e-commerce businesses often struggle to balance inventory. Customers order on different marketplaces, but they’re pulling from the same inventory pool. You might sell out of the product and restock, but what if all of your channels aren’t updated? You end up with false “sold out” signs and lost sales. And if your sales channel doesn’t reflect your sold out status prior to restocking, you could oversell.

With Logiwa inventory management system, you can set minimum inventory levels. On some systems, when your product inventory reaches that level, it will generate an alert. On Logiwa, you can even set it up to automatically reorder the product from your supplier. You can plow through your inventory manually, or automate portions of it, creating a more agile operation.

Logiwa Inventory software automatically generates your pick list, helping employees assemble the right order each time. If you’re a small business, how much can you spend handling returns resulting from inventory errors? You have to send out the same order twice at a minimum. The cost may be higher than you think.

Great Customer Service Isn’t a “Nice to Have”. It’s a “Must Have”

Your customers will be disappointed if the product they order is not available immediately, or shipped to them as soon as possible. Returns can be even trickier to handle, especially when competing against retail stores and e-commerce kings like Amazon. Inventory management system can help keep your customers informed about their orders and returns by automatically updating them every step of the way across all your sales channels.

Logiwa cloud inventory management system makes sure that the right items get shipped with the right order. Minimize unnecessary errors that could cause you to lose a potential customer. By shipping the right product every time, your customers know that they are getting what they paid for. You also build a relationship based on trust, which helps with future sales. Not to mention, tracking information helps prevent missing packages. Your customers can rest assured knowing where their product is at all times.

Save Money as You Grow With Cloud Inventory Control

As your company begins to scale, you’ll have trouble staying on top of inventory in the warehouse. Inventory management software can boost insight by giving you real-time access to the processes happening in the warehouse. The automatic updates and alerts for low or surplus stock saves you money and frees up resources for investment elsewhere.

Cloud inventory management can help you make better business decisions. An inventory management system can provide data on your best and worst performing products. Then you can capitalize on the trends your software recognized, resulting in more sales.A great inventory management system can help you work better with the other elements of your supply chain. Integrations are a key feature of the best inventory management systems. By automating your processes in the warehouse, you can:

Optimize picking routes

Save time in the packing process

Help your employees fulfill orders faster

Ship faster

Granular inventory data can help you with business decisions like your storage locations design and layout. Your layout should contribute to faster picking, packing, and shipping. Inventory data can help you plan your layout based on factors like slow-moving products versus fast-moving products. Placing items close together that are often picked for the same orders can increase picking efficiency.

Inventory Data Crunching Done For You

As a retailer, it can be a nightmare to calculate KPI’s and inventory benchmarks, especially as the buying and selling seasons fluctuate. An inventory management system calculates benchmark numbers such as inventory turnover ration, ATP, reorder points, and safety stock. The system will catch minor fluctuations and patterns over time that a human might miss!

Safety stock, or buffer stock, is a set amount of extra stock that mitigates out-of-stock risk during lead time. Your safety stock level is usually above the reorder point level, but just enough to account for fluctuations in demand. A good safety stock level makes sure that you always have sufficient inventory. This means that if sales unexpectedly increase, you’ll still have some inventory in the bank while you’re waiting for a purchase order restock.

Unlike safety stock, which is used as a buffer if demand fluctuates or unforeseen delays arise, ATP is what you have available in the near future. ATP is the projected amount of inventory you have left to sell, not including allocated inventory. It’s like a promise that you’ll always have a specific amount of inventory to sell. Inventory systems help calculate Available to Promise inventory, or ATP. ATP tells you the amount of inventory you have available to sell, making sure you don’t sell inventory you don’t have.

Use Data to Understand Your Supply Chain Relationships

Inventory management isn’t just for inventory going out. You can use your software to better inform your supplier relationships as well. Does the data show you that one of your suppliers consistently delivers late? How do these late deliveries ripple through your supply chain? Do you buy extra to compensate for late delivery? Perhaps it’s time to develop a new relationship. You shouldn’t have to tie up capital to in excess inventory to compensate for another business’ failings.

Proper Inventory Management = Increased Profits and Sales

Can inventory management affect profitability? For good or for ill, the answer is yes. Retail e-commerce businesses have two main avenues to increase their profit margins. That’s by lowering their operating costs or increasing their prices. External factors, like competition, influence your price points. Operations are internal, and completely within your control.

Optimizing your processes and operations lowers how much it costs to run your business. When you prioritize your bottom line profit over your top line sales, you build a more solid company.

When customers can’t find what they need, they don’t wait for a store to restock its shelves. They go to another store.

Of course, it’s impossible to do a physical count every single day. This is especially true if you’re managing a massive distribution center.

Adopting the traditional approach for daily inventory counts is impossible. Typically, operations halt for a day or two while an army of workers tackle the in locations. In some cases, employers offer overtime for employees to stay after hours or come in on a weekend to minimize disruption to the business’s operations.

Fortunately, inventory tracking software has kept pace with changing consumer trends. Today, inventory tracking systems allow enterprises to access real-time information about their inventory. Of course, this doesn’t mean that companies can simply outsource the entire inventory management process to a piece of software. A software’s data analysis capabilities are only as useful as the data it receives.

Frequently Asked Questions (FAQ)

Inventory management software is a software system that helps businesses keep track of their inventory essentially in a warehouse. The system helps companies register their incoming inventory and outgoing inventory. Since this is a dynamic environment, the net amount between these figures gives the inventory on-hand. Inventory management software also keeps track of various attributes for the inventory.

Inventory management system is essentially tracing the inventory in a fulfillment environment. The main features are as below;

Register incoming inventory

Register outgoing inventory

Reports live inventory figures

Provide traceability for inventory

Provide accurate inventory data

Inventory management systems are usually priced based on number of users in the market. You can purchase user licenses for $2,000 per user on average if you want to go for an on-premise model. In SaaS model, you can subscribe for a user at $100 per user per month on average.

A web-based inventory system is used on web browsers and can be accessed through web anywhere in the world. The application doesn't necessarily have to be hosted on a cloud environment. A cloud-based inventory system is inevitably a web-based inventory system because it needs to be accessed through web on web browsers. The software needs to be hosted on a cloud environment in order to be called cloud-based.

Inventory management system is the best for inventory. Because it provides inventory tracking and management functionality which is the most crucial if you have inventory. Logiwa is the best inventory management software in the market with its flexibility and wide range functionality for inventory tracking.

Inventory management system is used for inventory management. This software helps businesses manage their inventory, provide reports to be used for daily activities as well as to make decisions on a tactical and strategic level.

The ultimate purpose of an inventory management software is to provide accurate and real-time inventory figures in a continuously flowing distribution environment. Therefore, it registers the incoming inventory to add up to the inventory figures. It also registers outgoing inventory to subtract from the inventory figures. Inventory management software calculates the net inventory quantity live as in below formula;